Jefferson Ward Halts Purchases As It Looks For Buyer

Miami-based Jefferson Ward has stopped buying merchandise for its Florida stores, setting in motion a plan to find a buyer by the fall or consider closing all 23 stores.

All merchandise orders were halted this week by Jefferson's parent company, Montgomery Ward. Chicago-based Montgomery Ward also said it was canceling all preprinted Jefferson Ward advertising circulars beginning in September and laying off some of the 500 employees at the Miami headquarters.

Jack Kane, a Montgomery Ward spokesman, said there was enough merchandise in stock to get through the ''back-to-school period.''

Kane said orders for more goods were stopped in anticipation that the 26 remaining Jefferson Ward stores -- 23 in Florida and three in Virginia -- would be sold.

''If we do sell, we certainly don't want to have orders out for the spring season,'' he said. ''At this point, we're very optimistic that a sale can be made.'' A buyer has not yet been found, he said.